BMO cuts Novo Nordisk stock target from USD 47.00 to USD 40.00

Published on 10/13/2026 at 10:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted sales reached DKK 78.49 billion in Q2 2026, up 7.00 percent. Novo Nordisk stock was EUR 34.66 on October 13, 2026, with a USD 171.3 billion market value.

Key points in brief

BMO Capital lowered its Novo Nordisk price target from USD 47.00 to USD 40.00 on October 12, 2026, while keeping a Market Perform rating.
Novo Nordisk reported adjusted Q2 2026 sales of DKK 78.49 billion, up 7.00 percent at constant exchange rates.
Lang & Schwarz quoted Novo Nordisk at EUR 34.66 on October 13, 2026, at 10:37 a.m. CEST.
Novo Nordisk's next quarterly results are scheduled for November 4, 2026.

Generischer Insulin-Pen auf weißem Tisch, klinische Beleuchtung, medizinisch — Novo Nordisk A/S (DK0062498333): generischer Insulin-Pen auf weißem Tisch in klinischer Beleuchtung, Illustration mit AI erstellt.

Novo Nordisk stock (ISIN DK0062498333) was quoted at EUR 34.66 at Lang & Schwarz on October 13, 2026, at 10:37 a.m. CEST. On October 12, 2026, BMO Capital lowered its price target from USD 47.00 to USD 40.00 while keeping a Market Perform rating, according to Markets Insider.

Three dated signals for Novo Nordisk

On August 4, 2026, Novo Nordisk reported adjusted Q2 2026 sales of DKK 78.49 billion, up 7.00 percent at constant exchange rates, and adjusted operating profit of DKK 33.39 billion, up 11.00 percent. The release also identified a DKK 6.30 billion non-recurring, non-cash impairment charge linked to intangible pipeline assets, according to Novo Nordisk. On September 21, 2026, the company presented a strategy targeting more than five multi-blockbuster launches by 2030 and more than DKK 150 billion in risk-adjusted pipeline sales by 2035, as reported by Yahoo Finance. The October 12 target cut is the latest of the three signals.

What does the target cut mean?

The move from USD 47.00 to USD 40.00 represents a 14.89 percent reduction in BMO's target. The accompanying Market Perform rating and the cited concerns about Wegovy HD injectable uptake and pill-growth expectations place the emphasis on near-term execution rather than the longer-term pipeline.

Q2 growth meets a weaker outlook

Novo Nordisk's adjusted Q2 sales growth of 7.00 percent and adjusted operating profit growth of 11.00 percent remain the clearest recent operating benchmarks. For full-year 2026, the company expects adjusted sales growth and adjusted operating profit growth of 0% to minus 6% at constant exchange rates, compared with a prior range of minus 4% to minus 12%, according to Novo Nordisk. The range shows that stronger GLP-1 expectations improved the outlook even as the annual growth profile remains cautious.

Next results date is November 4

Novo Nordisk's next quarterly results are scheduled for November 4, 2026, before the market opens, according to De Belegger. That report will give investors a new test of the 2026 outlook and the company's response to the growth concerns reflected in BMO's target reduction.

Stock price and company facts

Novo Nordisk was quoted at EUR 34.66 at Lang & Schwarz on October 13, 2026, at 10:37 a.m. CEST. Finance data placed its market capitalization at USD 171.3 billion as of October 12, 2026.

The further course of trading is shown by the continuously updated real-time quote of Novo Nordisk stock.